The Yalta International Economic Forum (YIEF), an annual international business event, will be held in Russia's Crimea from Thursday to Saturday
MOSCOW (Pakistan Point News / Sputnik - 18th April, 2019) The Yalta International Economic Forum (YIEF), an annual international business event, will be held in Russia's Crimea from Thursday to Saturday.
Along with the St. Petersburg International Economic Forum, the Eastern Economic Forum and the Sochi Investment Forum it is one of the four biggest economic events held in Russia.
The forum is organized by the government of the Republic of Crimea, the Yalta International Economic Forum Fund with the support of the Russian presidential administration.
The forum's organizing committee is chaired by Sergei Aksyonov, the head of the Republic of Crimea.
The YIEF has been serving as the main platform for showcasing the investment potential of Crimea. An exhibition of investment projects has been working as part of the forum.
Every year, the forum is attended by high-level Russian government officials, international experts, influential business people and economists, representatives of major business organizations and other opinion leaders.
During the forum, a lot of attention is paid to the issues of international and interregional cooperation. There are also discussions devoted to the creation of a competitive modern market economy in Russia that does not depend on exports of natural resources; on effective interaction between business and government; on the development of competitive innovative production and modern technologies; and on the supporting small and medium-sized businesses, among other issues.
Traditionally, the third day of the forum is devoted to communication between the authorities of the region and the business community.
The first YIEF was held on April 17-18, 2015, in the village of Ponizovka near Yalta. The event was attended by over 600 people, including 34 representatives of foreign companies from 13 countries. As a result of the forum, six investors became residents of Crimea's free economic zone, while 28 more applied for participation in it.
The second YIEF took place on April 14-16, 2016, and was attended by over 1,000 people from 26 countries, with more than 200 speakers having taken the floor during the event. A total of 12 investment agreements worth 70 billion rubles ($1.087 billion) were signed during the forum. The largest contract signed on the sidelines of the forum was an agreement on the construction of a new airport terminal building in Simferopol, with the cost of the project estimated at 32 billion rubles.
The third YIEF was held on April 20-22, 2017. Over 2,200 people attended the event, including over 200 foreign delegates from 46 countries. More than 30 contracts worth over 100 billion rubles were signed on the sidelines of the forum.
The fourth YIEF titled "Global Future. Future of Russia" took place on April 19-21, 2018. It was attended by over 1,000 people representing over 70 countries. The 2018 YIEF resulted in 70 agreements worth 162 billion rubles.
The topic of the fifth YIEF will be "World. Russia. Crimea. New world reality." The organizers expect more than 3,000 participants from about 100 countries.
The co-chairman of the Business Russia association and the co-chairman of the forum's organizing committee, Andrey Nazarov, noted in December that during the four years of the forum's existence it had attracted over $5 billion of investments in the Crimean economy.
